Energy markets with probabilistic offers have been investigated in [1]}.
Reference [2]} analysed aggregation problems and risky power markets.
Chance constrained programming for joint clearing of energy and reserves in peer to peer markets has been applied in [3]}.
There exist several papers on the joint clearing of energy and reserves under uncertainty, where reliability awareness is implicitly included in the stochastic formulation, e.g., [4]} using distributionally robust optimization.
Here, we focus on the reserve clearing problem with the aim of developing a more tractable market clearing tool for system operators (SO) which can easily be incorporated in existing deterministic frameworks.
